NEW DELHI: Auto stocks Wednesday jumped over 7 per cent amid positive global cues and falling crude prices among other factors, analysts said.
Shares of Hero Motocorp ended with 7.57 per cent gains at Rs 3,265.30. Besides, it was the biggest gainer in the Sensex pack.
Moreover, Eicher Motors advanced 4.38 per cent to Rs 23,745.55 and Bajaj Auto gained 3.70 per cent to close at Rs 2,847.30 on the BSE.
Among others, Tata Motors rose 3.60 per cent, Mahindra & Mahindra increased by 3.59 per cent, while TVS Motor closed the counter with 3.43 per cent gain.
Led by gains in these stocks, BSE Auto index ended 3.58 per cent higher at 20,675.27.
"Auto stocks rallied today mostly on account of positive sentiments. Government's prompt action on appointment of new governor, benign crude prices and expected liquidity easing helped the sentiments," Centrum Broking analyst Awanish Chandra said.
China's progress towards easing tariff on the US made vehicles added to the positive sentiments in global auto market, he added.